Associate Portfolio Manager – Emerging Debt

Boston, MA /
Emerging Country Debt /
Full-time
Company Profile

Founded in 1977, GMO is a private partnership committed to delivering superior investment performance and advice to our clients.  We offer strategies where we believe we are positioned to add the greatest value for our investors.  These include multi-asset class portfolios as well as dedicated equity, fixed income, and absolute return offerings, many of which employ the firm’s proprietary 7-year asset class forecasting framework.  Our client base is comprised primarily of institutions, including corporate and public defined benefit and defined contribution retirement plans, endowments, foundations, and financial intermediaries. 

GMO, whose sole business is investment management, employs approximately 470 people worldwide and is headquartered in Boston with offices in San Francisco, London, Amsterdam, Sydney, and Singapore. We manage roughly $60 billion in client assets using a combination of top-down and bottom-up approaches that blend traditional fundamental insights with innovative quantitative methods to identify undervalued asset classes and securities. Our valuation-based approach embeds several key factors, including: a long-term investment horizon, discipline, conviction, and a commitment to research. Our research emphasizes not only identifying and exploiting pricing dislocations but also understanding the long-term drivers of return in the markets in which we invest. We are known for our candor in sharing our views with clients and for our willingness to take bold, differentiated positions when opportunities warrant. 

Position Overview:
 
The Emerging Debt Team at GMO, currently comprised of two PMs, two sovereign analysts, and two corporate analysts, is seeking an Associate Portfolio Manager to support the team as it expands to offering separately-managed accounts (SMAs).  The primary role initially is to keep the SMAs in line with the main funds, working collaboratively with the PMs, and ensuring each SMA follows account-specific guidelines. The individual will work alongside the portfolio managers, traders, and research analysts providing critical support in the monitoring of strategies, analytics, portfolio characteristics, and supporting the portfolio management, trade allocation, and trading process.  The individual will also be responsible for maintaining reports for key portfolio exposures and communicating these exposures to SMA clients.  Over time, the Portfolio Analyst’s role will grow toward becoming more involved in the investment process.

Responsibilities

    • Allocate and reconcile trades in a timely manner
    • Work with portfolio managers to build and monitor risk in portfolios, including management of cash flows
    • Maintain and rebalance portfolios across accounts in accordance with any SMA guidelines and other compliance-related issues
    • Work with technology and strategy teams to increase automation, improve quality of data, and create new trading tools
    • Liase with operations on a daily basis to resolve any trading issues
    • Document and deliver reconciliation of relative account performance
    • Represent and monitor portfolio security analytics and portfolio risks, using Excel and Aladdin
    • Engage in technology and systems upgrade projects to ensure all business needs are met within the Emerging Debt team and other GMO teams

Requirements

    • 5+ years of experience analyzing and modeling emerging debt securities and derivatives (credit, rates, fx), including 2+ working with Aladdin strongly preferred
    • Bachelor’s Degree required
    • Demonstrated ability to work well under pressure and have strong organizational and communication skills to manage the portfolio process and workflow effectively
    • Strong math skills are required, and a candidate should quickly grow to have intuitive understanding of basic allocation problems and procedures
    • Strong Excel skills required and familiarity with VBA macros strongly preferred
    • Experience with standard fixed income attribution, particularly the ability to reconcile with Aladdin
    • The individual should have the ability to communicate portfolio exposures via numerics, graphics, and via effective spoken communication, within the team and with clients
    • Demonstrate responsibility, reliability, a strong work ethic, attention to detail, and a passion for our business
    • Given the occasional market stresses – particularly in the 90+ countries associated with EMD – we seek individuals who are calm and can think fast and make their observations and opinions known when the time is needed